Gold Digger: Platinum spins new 11-year record

Platinum has surged to an 11-year high on rising investment demand and a major supply shortfall that could hit 1Moz in 2025.

The hits keep on coming: Platinum has spun to an 11-year high. Pic via Getty Images

• Platinum prices have hit an 11-year high

• BMO sees the precious metal running to US$1500/oz by the end of 2025

• A number of ASX stocks have been rising in recent weeks, with Chalice up ~10% on Friday

Gold has been top dog among the precious metals for the past year, seizing new record highs en masse thanks to global political instability, rising debt levels, central bank demand and a shifty US dollar.

Now other precious metals are playing catch-up. Silver cracked a long-term resistance level at US$35/oz earlier in June and is now up around US$36.40/oz, double prices seen in early 2022.

But another downtrodden investment focused metal is now at 11-year highs, with platinum surging to as much as US$1422/oz on Thursday.

"Contracting supply in South Africa and tightness in the spot market are raising prices," ANZ Research says.

"Palladium also rallied, breaking above USD1100/oz."

Yesterday's move in platinum clocked in at close to 5%, with palladium prices surging over 6.5%.

The latter is a long, long way off US$3400/oz highs seen after major producer Russia's invasion of Ukraine – sanctions failed to lead to a cessation of supply from the belligerent nation to the West.

But it's a handy bump, reflecting the fact the platinum group metals market is in a structural deficit and that investment demand is surging – especially in China – as investors look for an option that isn't as pricy as gold.

The World Platinum Investment Council in its March update projected the platinum deficit would be 115,000oz higher than previously thought at 966,000oz, even with falling automotive demand (PGMs are used in auto catalysts, which reduce emissions from petrol cars) expected to cause demand to fall 4% to 7.965Moz.

Supply will drop 4% as well to 6.999Moz, with mined supply outside Russia falling sharply in the first quarter.

Heavy rainfall saw South African output tumbled 10% YoY to 715,000oz, prompting overall platinum supply to drop 10% as well to 1.458Moz in the three months to March 31, 2025.

If recycled supply is excised from that number, mined supply fell 13% YoY to 1.086Moz, the worst quarter since the Covid-affected June quarter of 2020.

Will it keep going?

Platinum and palladium are currently retracing a ratio against gold that has cratered in recent years.

In early 2023, palladium was trading, virtually, on par with bullion. The Russian supply outlook was key there, but also (now delayed) hopes hydrogen electrolysers would become a disruptive source of demand for PGMs.

At the time an ounce of platinum could get you 3/5ths of an ounce of gold.

Now both trade below 40% of the gold price.

BMO analysts in a note this week said they saw further upside for platinum in the second half of 2025.

"After several years of deficits, the platinum market appears to finally be drawing on investor stockpiles to remain balanced, causing prices to break out,” BMO said.

“Looking forward, we see further upside for platinum in the second half of this year, given that the persistent deficit will require prices to rise to levels that incentivise investors to sell more stock.”

BMO is tipping US$1500/oz platinum by the end of 2025.

The Canadian bank has a US$3600/oz fourth quarter forecast for gold.

ASX moves

On the ASX, Future Metals (ASX:FME), the owner of the Panton project in northern WA, was up 5.3% on Friday.

It owns the Panton project near Halls Creek, which contains a total resource of 92.9Mt at 2g/t palladium equivalent for 6Moz PdEq, but has also made a promising copper and nickel discovery at the nearby Eileen's Bore target.

The firm has a deal with Zeta Resources, which mopped up the assets of failed nickel miner Panoramic Resources, to investigate the use of its Savannah plant to process ores from Eileen's Bore and Panton.

The bellwether for PGMs on the ASX, Chalice Mining (ASX:CHN), surged close to 10% on Friday to $1.81, hitting a market cap of $700m.

Once a $3bn explorer at the height of the battery metals boom, CHN is up 60% YTD as it progresses a PFS on the large but low grade Gonneville discovery at Julimar, around 70km north-east of Perth.

Southern Palladium (ASX:SPD), which owns the Bengwenyama project in platinum rich South Africa and trades at a market cap of $63m, was unchanged on Friday but has risen 47.5% in the past month as platinum prices have charged.

Producer Zimplats Holdings (ASX:ZIM), which boasts a $1.7bn market cap, is also up 23% in the past month, while early stage explorer Terra Metals (ASX:TM1), which has discovered a Bushveld style PGE, titanium, precious and base metals mineralised reef at Dante in WA's Musgrave Province, is up 53% in the past month.

Terra has mineral resource consultants on-site this month. Its value proposition was highlighted by the surprise introduction of coal miners GEAR and M Resources, major investors in Stanmore Coal (ASX:SMR), to its register in a $4m placement in mid-June, extending their diversifying exposure to critical minerals.

Winners and losers

Here’s how ASX-listed precious metals stocks are performing:

CODE	COMPANY	PRICE	WEEK %	MONTH %	6 MONTH %	YEAR %	YTD %	MARKET CAP
MRR	Minrex Resources Ltd	0.008	-11%	-27%	0%	-11%	14%	$ 8,678,940.02
NPM	Newpeak Metals	0.024	33%	71%	71%	20%	118%	$ 6,441,434.62
MTC	Metalstech Ltd	0.135	0%	-4%	0%	-39%	-4%	$ 27,133,811.38
GED	Golden Deeps	0.021	-5%	17%	-16%	-36%	-16%	$ 3,542,514.02
G88	Golden Mile Res Ltd	0.011	-8%	-21%	38%	-8%	22%	$ 5,986,726.41
LAT	Latitude 66 Limited	0.024	-14%	-37%	-50%	1100%	-37%	$ 3,298,216.22
NMR	Native Mineral Res	0.19	-7%	12%	387%	660%	387%	$ 169,892,812.87
AQX	Alice Queen Ltd	0.003	0%	-40%	-57%	-54%	-63%	$ 3,748,920.20
SLZ	Sultan Resources Ltd	0.006	20%	0%	-14%	-25%	0%	$ 1,620,289.37
KSN	Kingston Resources	0.14	8%	12%	92%	71%	97%	$ 115,291,995.14
AMI	Aurelia Metals Ltd	0.1975	-8%	-32%	16%	4%	16%	$ 330,051,664.80
GIB	Gibb River Diamonds	0.027	-23%	-21%	-34%	-36%	-33%	$ 5,362,736.13
KCN	Kingsgate Consolid.	2.27	-1%	12%	77%	46%	77%	$ 582,518,823.92
TMX	Terrain Minerals	0.002	0%	-33%	-33%	-33%	-33%	$ 5,063,628.55
BNR	Bulletin Res Ltd	0.056	-10%	-14%	44%	30%	44%	$ 17,029,572.73
NXM	Nexus Minerals Ltd	0.071	-7%	-9%	54%	82%	58%	$ 42,866,932.52
SKY	SKY Metals Ltd	0.052	13%	6%	0%	63%	-4%	$ 35,535,158.30
LM8	Lunnonmetalslimited	0.23	0%	12%	10%	21%	-8%	$ 48,538,198.28
CST	Castile Resources	0.056	2%	-13%	-30%	-23%	-30%	$ 17,121,920.48
YRL	Yandal Resources	0.09	-18%	-31%	-52%	-31%	-49%	$ 27,831,148.38
FAU	First Au Ltd	0.004	0%	33%	167%	60%	100%	$ 7,251,976.47
ARL	Ardea Resources Ltd	0.4	3%	-2%	29%	-16%	21%	$ 83,113,101.43
GWR	GWR Group Ltd	0.091	0%	-5%	14%	6%	14%	$ 29,448,205.61
IVR	Investigator Res Ltd	0.023	-26%	5%	21%	-50%	15%	$ 41,585,109.86
GTR	Gti Energy Ltd	0.003	-25%	-25%	0%	-40%	-14%	$ 8,996,848.99
IPT	Impact Minerals	0.006	0%	20%	-39%	-58%	-36%	$ 23,731,979.81
BNZ	Benzmining	0.45	5%	11%	34%	260%	30%	$ 71,194,677.38
MOH	Moho Resources	0.004	33%	-20%	0%	0%	-20%	$ 2,981,656.11
BCM	Brazilian Critical	0.011	0%	10%	16%	-35%	22%	$ 14,415,865.59
PUA	Peak Minerals Ltd	0.027	23%	42%	248%	1020%	248%	$ 72,990,353.54
MRZ	Mont Royal Resources	0.041	0%	0%	-5%	-33%	-5%	$ 3,486,221.51
SMS	Starmineralslimited	0.025	32%	0%	-32%	-8%	-31%	$ 4,459,359.67
MVL	Marvel Gold Limited	0.0125	-11%	-11%	39%	56%	39%	$ 16,717,988.44
PRX	Prodigy Gold NL	0.002	0%	0%	0%	12%	0%	$ 6,350,111.10
AAU	Antilles Gold Ltd	0.005	11%	67%	25%	25%	67%	$ 11,895,340.08
CWX	Carawine Resources	0.096	1%	0%	-4%	7%	-4%	$ 22,668,043.10
RND	Rand Mining Ltd	1.81	-14%	-6%	19%	20%	19%	$ 101,239,210.58
CAZ	Cazaly Resources	0.018	-10%	13%	38%	0%	29%	$ 7,842,150.85
BMR	Ballymore Resources	0.155	-14%	0%	24%	-3%	29%	$ 27,393,240.68
DRE	Dreadnought Resources Ltd	0.009	-25%	-31%	-18%	-55%	-25%	$ 50,795,000.00
ZNC	Zenith Minerals Ltd	0.037	3%	-16%	-14%	-26%	-8%	$ 15,648,351.36
REZ	Resourc & En Grp Ltd	0.016	-20%	0%	-33%	45%	-30%	$ 12,089,504.20
LEX	Lefroy Exploration	0.11	10%	38%	57%	10%	57%	$ 24,842,013.80
ERM	Emmerson Resources	0.125	-4%	-4%	69%	136%	62%	$ 79,452,359.88
AM7	Arcadia Minerals	0.017	6%	-11%	-11%	-54%	-11%	$ 1,878,134.93
ADT	Adriatic Metals	5.5	1%	10%	39%	38%	41%	$ 1,683,810,176.55
AS1	Asara Resources Ltd	0.049	-8%	-6%	172%	390%	158%	$ 53,957,714.55
CYL	Catalyst Metals	5.17	-10%	-19%	102%	370%	100%	$ 1,331,931,218.31
CHN	Chalice Mining Ltd	1.7975	11%	45%	64%	34%	63%	$ 639,949,066.26
KAL	Kalgoorliegoldmining	0.038	-5%	3%	100%	31%	111%	$ 15,639,949.26
MLS	Metals Australia	0.018	6%	-5%	-18%	-5%	-22%	$ 13,116,951.43
ADN	Andromeda Metals Ltd	0.012	0%	9%	71%	-25%	71%	$ 45,760,116.89
MEI	Meteoric Resources	0.1175	-2%	12%	37%	-24%	38%	$ 257,054,906.02
SRN	Surefire Rescs NL	0.002	0%	-4%	-20%	-70%	-32%	$ 4,972,890.78
WA8	Warriedarresourltd	0.115	-4%	0%	167%	102%	161%	$ 140,718,297.48
HMX	Hammer Metals Ltd	0.029	-9%	-15%	-9%	-15%	-12%	$ 25,745,002.30
WCN	White Cliff Min Ltd	0.023	15%	-18%	35%	53%	44%	$ 53,094,495.21
AVM	Advance Metals Ltd	0.049	7%	17%	44%	96%	44%	$ 12,456,637.20
ASR	Asra Minerals Ltd	0.002	0%	0%	-33%	-50%	-33%	$ 5,987,547.01
ARI	Arika Resources	0.036	3%	0%	33%	80%	33%	$ 25,834,476.95
CTO	Citigold Corp Ltd	0.003	0%	-25%	-25%	-25%	-25%	$ 9,000,000.00
SMI	Santana Minerals Ltd	0.535	-4%	-3%	19%	57%	10%	$ 390,268,084.50
M2R	Miramar	0.003	-14%	0%	-40%	-63%	0%	$ 3,488,881.50
MHC	Manhattan Corp Ltd	0.021	5%	-13%	0%	-16%	11%	$ 4,697,977.96
GRL	Godolphin Resources	0.009	0%	0%	-36%	-53%	-38%	$ 4,039,859.81
SVG	Savannah Goldfields	0.018	0%	-10%	-2%	37%	-2%	$ 20,548,386.70
EMC	Everest Metals Corp	0.135	-10%	-7%	0%	13%	0%	$ 30,257,719.43
GUL	Gullewa Limited	0.0725	-12%	4%	29%	2%	29%	$ 15,261,552.04
CY5	Cygnus Metals Ltd	0.085	-10%	15%	-11%	98%	-15%	$ 74,048,455.38
G50	G50Corp Ltd	0.145	21%	16%	-3%	-12%	-6%	$ 22,483,672.26
ADV	Ardiden Ltd	0.145	0%	-6%	4%	12%	7%	$ 8,752,450.84
AAR	Astral Resources NL	0.17	-8%	-3%	13%	93%	26%	$ 241,062,928.93
VMC	Venus Metals Cor Ltd	0.1	-9%	-17%	59%	43%	49%	$ 20,593,511.72
NAE	New Age Exploration	0.003	0%	-25%	-25%	0%	-14%	$ 8,117,734.22
VKA	Viking Mines Ltd	0.006	0%	-14%	-25%	-25%	-25%	$ 8,063,692.49
LCL	LCL Resources Ltd	0.006	-14%	-14%	-33%	-33%	-40%	$ 5,996,285.76
MTH	Mithril Silver Gold	0.49	4%	34%	27%	165%	23%	$ 72,199,720.89
ADG	Adelong Gold Limited	0.0045	0%	-44%	13%	-25%	0%	$ 9,309,045.03
RMX	Red Mount Min Ltd	0.0105	31%	17%	5%	5%	17%	$ 4,184,620.16
PRS	Prospech Limited	0.015	-17%	-40%	-48%	-46%	-48%	$ 5,682,388.31
TTM	Titan Minerals	0.33	-11%	-14%	0%	-21%	-13%	$ 88,639,940.04
AKA	Aureka Limited	0.12	-8%	-8%	-14%	-99%	-11%	$ 15,126,033.72
AAM	Aumegametals	0.03	-3%	-12%	-29%	-48%	-29%	$ 18,123,391.26
KZR	Kalamazoo Resources	0.092	6%	8%	12%	15%	24%	$ 19,745,416.53
BCN	Beacon Minerals	0.027	-10%	-4%	23%	4%	23%	$ 118,339,072.85
MAU	Magnetic Resources	1.5225	-5%	-9%	38%	48%	38%	$ 407,880,264.08
BC8	Black Cat Syndicate	0.77	-9%	-8%	33%	157%	36%	$ 537,701,883.28
EM2	Eagle Mountain	0.006	0%	20%	-19%	-86%	-33%	$ 6,810,223.73
EMR	Emerald Res NL	3.89	-15%	-15%	18%	16%	20%	$ 2,649,392,194.54
BYH	Bryah Resources Ltd	0.012	-8%	140%	300%	100%	300%	$ 10,439,442.26
HCH	Hot Chili Ltd	0.645	19%	26%	-4%	-31%	-8%	$ 86,409,804.93
WAF	West African Res Ltd	2.21	1%	-18%	53%	42%	54%	$ 2,507,840,519.80
MEU	Marmota Limited	0.038	-3%	-12%	0%	-17%	-3%	$ 47,132,231.60
NVA	Nova Minerals Ltd	0.32	-7%	3%	-9%	68%	-14%	$ 103,359,173.44
SVL	Silver Mines Limited	0.115	-4%	16%	44%	-26%	47%	$ 204,674,170.08
PGD	Peregrine Gold	0.16	-3%	14%	45%	-18%	14%	$ 13,151,399.86
ICL	Iceni Gold	0.056	-7%	-11%	-14%	-14%	-21%	$ 19,224,877.67
FG1	Flynngold	0.027	-18%	8%	0%	8%	8%	$ 11,739,494.10
WWI	West Wits Mining Ltd	0.021	5%	-28%	50%	75%	50%	$ 68,645,357.36
RML	Resolution Minerals	0.052	16%	300%	271%	225%	333%	$ 34,222,579.92
AAJ	Aruma Resources Ltd	0.0085	-15%	-15%	-23%	-29%	-29%	$ 3,115,434.99
HWK	Hawk Resources.	0.015	0%	-21%	-25%	-44%	-32%	$ 4,063,941.74
GMN	Gold Mountain Ltd	0.002	33%	0%	-33%	-33%	-33%	$ 5,619,759.25
MEG	Megado Minerals Ltd	0.017	42%	21%	13%	123%	0%	$ 10,313,615.45
HMG	Hamelingoldlimited	0.064	-23%	-9%	2%	-9%	0%	$ 12,691,428.54
BM8	Battery Age Minerals	0.055	0%	4%	-45%	-58%	-48%	$ 7,069,725.73
TBR	Tribune Res Ltd	4.76	-5%	-3%	11%	42%	11%	$ 245,025,919.59
FML	Focus Minerals Ltd	0.355	-3%	-15%	115%	145%	109%	$ 101,728,318.98
VRC	Volt Resources Ltd	0.0035	-13%	-13%	17%	-13%	17%	$ 14,054,333.95
ARV	Artemis Resources	0.006	0%	-14%	-29%	-50%	-25%	$ 15,214,032.99
HRN	Horizon Gold Ltd	0.56	1%	14%	26%	96%	17%	$ 81,110,356.88
CLA	Celsius Resource Ltd	0.007	0%	0%	-36%	-46%	-36%	$ 21,948,419.16
QML	Qmines Limited	0.044	5%	29%	-15%	-19%	-19%	$ 18,998,309.53
RDN	Raiden Resources Ltd	0.004	-20%	-43%	-64%	-88%	-64%	$ 13,803,565.77
TCG	Turaco Gold Limited	0.46	-4%	2%	70%	149%	80%	$ 478,206,192.80
KCC	Kincora Copper	0.039	-3%	18%	44%	-19%	44%	$ 9,183,684.43
GBZ	GBM Rsources Ltd	0.0135	125%	93%	93%	50%	69%	$ 15,223,909.71
DTM	Dart Mining NL	0.003	0%	0%	-67%	-84%	-67%	$ 3,594,166.73
MKR	Manuka Resources.	0.04	8%	5%	43%	8%	43%	$ 34,176,274.43
AUC	Ausgold Limited	0.77	8%	24%	88%	120%	83%	$ 269,873,342.68
ANX	Anax Metals Ltd	0.005	-29%	-38%	-55%	-80%	-58%	$ 3,531,230.27
EMU	EMU NL	0.019	-5%	0%	-27%	-32%	-30%	$ 4,224,969.36
SFM	Santa Fe Minerals	0.031	-23%	-23%	7%	-16%	0%	$ 2,257,382.46
PNR	Pantoro Gold Limited	3.06	-3%	-13%	98%	98%	100%	$ 1,190,223,186.99
CMM	Capricorn Metals	9.72	-5%	4%	52%	108%	55%	$ 4,280,629,077.03
VRL	Verity Resources	0.021	-16%	-30%	3%	-46%	8%	$ 5,588,469.36
HAW	Hawthorn Resources	0.055	4%	10%	34%	-7%	34%	$ 18,425,858.72
BGD	Bartongoldholdings	0.8	-11%	19%	227%	191%	227%	$ 176,336,215.21
SVY	Stavely Minerals Ltd	0.01	-17%	-17%	-38%	-66%	-41%	$ 5,440,420.93
AGC	AGC Ltd	0.145	-6%	-3%	-9%	-50%	-6%	$ 37,206,597.19
RGL	Riversgold	0.004	0%	0%	33%	-20%	0%	$ 5,892,994.08
TSO	Tesoro Gold Ltd	0.0285	24%	6%	43%	2%	43%	$ 54,396,473.59
GUE	Global Uranium	0.064	-3%	-6%	2%	-21%	7%	$ 28,649,544.40
CPM	Coopermetalslimited	0.036	0%	0%	-10%	-49%	-22%	$ 2,742,447.75
MM8	Medallion Metals.	0.25	2%	-9%	127%	346%	108%	$ 127,161,422.50
FFM	Firefly Metals Ltd	1.04	0%	2%	15%	45%	12%	$ 646,284,444.50
CBY	Canterbury Resources	0.028	-3%	27%	17%	-33%	27%	$ 5,808,345.09
SLA	Solara Minerals	0.185	6%	48%	113%	-20%	106%	$ 10,147,344.03
SFR	Sandfire Resources	11.35	0%	3%	19%	29%	22%	$ 5,040,609,022.80
TAM	Tanami Gold NL	0.058	18%	29%	93%	87%	93%	$ 64,630,337.53
NWM	Norwest Minerals	0.012	0%	20%	-12%	-52%	0%	$ 11,620,302.74
ALK	Alkane Resources Ltd	0.725	0%	-4%	44%	41%	42%	$ 439,017,871.70
BMO	Bastion Minerals	0.002	27%	155%	-36%	-58%	-36%	$ 1,807,255.13
IDA	Indiana Resources	0.0845	10%	8%	39%	94%	39%	$ 53,346,794.01
GSM	Golden State Mining	0.008	14%	-11%	-11%	-20%	0%	$ 2,514,335.67
NSM	Northstaw	0.033	3%	8%	96%	172%	109%	$ 9,824,314.72
GSN	Great Southern	0.027	13%	23%	86%	59%	80%	$ 24,920,107.25
VAU	Vault Minerals Ltd	0.41	0%	-12%	28%	11%	24%	$ 2,755,001,719.71
THR	Thor Energy PLC	0.011	10%	0%	-15%	-27%	-15%	$ 6,397,108.52
CDR	Codrus Minerals Ltd	0.031	-21%	-14%	63%	-23%	82%	$ 6,408,765.75
MDI	Middle Island Res	0.023	5%	28%	77%	64%	92%	$ 6,451,147.36
WTM	Waratah Minerals Ltd	0.285	14%	-12%	90%	159%	84%	$ 72,388,802.46
POL	Polymetals Resources	0.81	-1%	-2%	1%	218%	2%	$ 205,477,533.53
RDS	Redstone Resources	0.003	0%	-57%	20%	-25%	20%	$ 3,102,802.07
NAG	Nagambie Resources	0.015	-12%	0%	-12%	50%	-17%	$ 12,852,837.50
BGL	Bellevue Gold Ltd	0.9075	-4%	-3%	-19%	-47%	-19%	$ 1,284,403,713.09
GBR	Greatbould Resources	0.064	-12%	-9%	52%	10%	49%	$ 47,167,910.93
KAI	Kairos Minerals Ltd	0.032	10%	14%	167%	256%	167%	$ 81,558,277.86
KAU	Kaiser Reef	0.17	0%	-6%	3%	10%	6%	$ 100,902,845.50
HRZ	Horizon	0.0515	3%	10%	32%	61%	29%	$ 125,768,182.39
CDT	Castle Minerals	0.075	-10%	-23%	0%	-29%	25%	$ 8,236,679.47
RSG	Resolute Mining	0.6375	5%	0%	63%	24%	61%	$ 1,351,946,758.26
EVN	Evolution Mining Ltd	7.56	-3%	-17%	56%	123%	57%	$ 15,097,934,010.64
CXU	Cauldron Energy Ltd	0.007	-30%	-20%	-45%	-69%	-40%	$ 14,329,288.06
DLI	Delta Lithium	0.165	-6%	-11%	0%	-25%	-3%	$ 121,812,104.64
ALY	Alchemy Resource Ltd	0.005	0%	-17%	-29%	-17%	-29%	$ 5,890,381.28
NH3	Nh3Cleanenergyltd	0.033	10%	38%	83%	200%	83%	$ 18,631,957.91
OBM	Ora Banda Mining Ltd	0.775	-17%	-26%	18%	125%	19%	$ 1,497,586,628.18
AVW	Avira Resources Ltd	0.007	0%	0%	-65%	-65%	-65%	$ 1,610,000.00
LCY	Legacy Iron Ore	0.009	0%	0%	0%	-28%	-10%	$ 87,858,383.26
PDI	Predictive Disc Ltd	0.38	-4%	-13%	62%	124%	65%	$ 995,765,940.68
MAT	Matsa Resources	0.066	10%	2%	110%	164%	89%	$ 47,674,924.25
ZAG	Zuleika Gold Ltd	0.014	-22%	17%	8%	-13%	8%	$ 11,128,198.91
GML	Gateway Mining	0.027	-7%	-16%	29%	17%	29%	$ 11,038,147.97
SBM	St Barbara Limited	0.285	-10%	-8%	43%	46%	27%	$ 314,025,438.89
SBR	Sabre Resources	0.008	-11%	-11%	-20%	-50%	-20%	$ 3,155,695.46
STK	Strickland Metals	0.14	4%	17%	75%	33%	65%	$ 316,730,371.58
CEL	Challenger Gold Ltd	0.083	-3%	-2%	89%	51%	77%	$ 169,371,753.50
GG8	Gorilla Gold Mines	0.41	-8%	-20%	71%	1357%	58%	$ 254,311,871.54
NST	Northern Star	18.24	-11%	-13%	19%	41%	18%	$ 26,913,855,605.16
OZM	Ozaurum Resources	0.064	-3%	-26%	146%	21%	113%	$ 14,433,418.00
TG1	Techgen Metals Ltd	0.023	-8%	-12%	-30%	-18%	-34%	$ 3,807,977.04
XAM	Xanadu Mines Ltd	0.0795	2%	-1%	66%	42%	62%	$ 183,296,895.12
AQI	Alicanto Min Ltd	0.026	-7%	-7%	-32%	24%	-30%	$ 22,051,717.38
KTA	Krakatoa Resources	0.012	9%	9%	33%	-14%	26%	$ 6,821,474.28
ARN	Aldoro Resources	0.32	2%	3%	7%	338%	-16%	$ 58,617,327.68
WGX	Westgold Resources.	2.88	-3%	-2%	1%	15%	2%	$ 2,753,880,294.80
MBK	Metal Bank Ltd	0.012	9%	9%	-14%	-45%	-20%	$ 5,969,507.98
A8G	Australasian Metals	0.064	-4%	-17%	-18%	-15%	-19%	$ 3,820,721.85
TAR	Taruga Minerals	0.008	-11%	0%	-20%	14%	-20%	$ 5,710,032.46
DTR	Dateline Resources	0.087	10%	58%	2800%	924%	2386%	$ 262,290,264.53
GOR	Gold Road Res Ltd	3.26	-3%	-3%	61%	99%	59%	$ 3,563,388,916.80
S2R	S2 Resources	0.07	3%	-25%	8%	-23%	4%	$ 33,030,791.09
NES	Nelson Resources.	0.0025	-17%	-17%	-17%	-17%	-17%	$ 5,429,819.15
TLM	Talisman Mining	0.145	12%	-3%	-33%	-43%	-29%	$ 27,306,450.61
BEZ	Besragoldinc	0.049	-9%	23%	-38%	-51%	-46%	$ 20,359,351.29
PRU	Perseus Mining Ltd	3.365	-5%	-11%	32%	43%	31%	$ 4,590,686,495.44
SPQ	Superior Resources	0.004	14%	0%	-33%	-42%	-33%	$ 11,854,913.63
PUR	Pursuit Minerals	0.038	3%	-5%	-62%	-75%	-60%	$ 3,789,890.59
RMS	Ramelius Resources	2.5	-4%	-12%	18%	34%	21%	$ 2,955,313,340.40
PKO	Peako Limited	0.001	-67%	-67%	-67%	-68%	-67%	$ 2,975,483.92
ICG	Inca Minerals Ltd	0.008	-11%	60%	60%	14%	60%	$ 12,611,120.50
A1G	African Gold Ltd.	0.195	22%	44%	282%	713%	255%	$ 102,643,704.54
NMG	New Murchison Gold	0.0195	8%	30%	95%	290%	117%	$ 177,315,301.93
GNM	Great Northern	0.014	0%	-13%	0%	17%	0%	$ 2,164,807.08
KRM	Kingsrose Mining Ltd	0.0305	-5%	-5%	-8%	-24%	-13%	$ 23,359,322.09
BTR	Brightstar Resources	0.495	-3%	-24%	-1%	16%	-1%	$ 231,562,961.28
RRL	Regis Resources	4.38	-5%	-12%	69%	152%	72%	$ 3,392,095,025.66
M24	Mamba Exploration	0.013	-7%	-19%	8%	-13%	8%	$ 3,837,152.93
TRM	Truscott Mining Corp	0.049	-2%	-25%	-37%	-18%	-37%	$ 9,380,979.44
TNC	True North Copper	0.415	19%	46%	-86%	-92%	-86%	$ 45,220,889.74
MOM	Moab Minerals Ltd	0.001	0%	0%	-67%	-67%	-50%	$ 1,733,666.03
KNB	Koonenberrygold	0.032	-14%	-54%	146%	113%	167%	$ 32,790,159.33
AWJ	Auric Mining	0.165	-6%	-20%	-50%	-6%	-51%	$ 30,686,881.83
ENR	Encounter Resources	0.235	-2%	-2%	-29%	-58%	-28%	$ 109,734,310.18
SNG	Siren Gold	0.047	-6%	-2%	-27%	-48%	-28%	$ 10,510,589.23
STN	Saturn Metals	0.365	7%	16%	66%	87%	78%	$ 174,670,884.36
USL	Unico Silver Limited	0.275	-2%	15%	45%	83%	41%	$ 116,055,095.08
PNM	Pacific Nickel Mines	0.024	0%	0%	0%	-20%	0%	$ 10,103,834.52
AYM	Australia United Min	0.003	0%	50%	-25%	50%	-25%	$ 5,527,732.46
HAV	Havilah Resources	0.17	-8%	-6%	-23%	-11%	-24%	$ 59,369,851.80
SPR	Spartan Resources	1.9725	-2%	-10%	51%	119%	40%	$ 2,556,723,338.09
PNT	Panthermetalsltd	0.015	7%	0%	25%	-18%	36%	$ 3,911,759.12
MEK	Meeka Metals Limited	0.14	-7%	-7%	87%	324%	82%	$ 422,777,249.65
GMD	Genesis Minerals	4.34	-4%	-2%	72%	148%	76%	$ 4,917,013,365.00
PGO	Pacgold	0.062	-5%	-15%	-15%	-46%	-17%	$ 9,481,599.74
FEG	Far East Gold	0.16	3%	10%	-9%	60%	-11%	$ 56,889,255.22
MI6	Minerals260Limited	0.1175	-2%	-24%	-6%	-16%	-10%	$ 248,079,999.96
IGO	IGO Limited	4.16	3%	-2%	-14%	-30%	-13%	$ 3,036,643,930.13
GAL	Galileo Mining Ltd	0.125	19%	0%	9%	-39%	0%	$ 21,738,741.97
RXL	Rox Resources	0.285	-3%	-5%	50%	119%	43%	$ 208,835,226.30
PTN	Patronus Resources	0.066	-6%	14%	32%	18%	35%	$ 111,343,050.67
CLZ	Classic Min Ltd	0.001	0%	0%	0%	0%	0%	$ 3,017,699.21
TGM	Theta Gold Mines Ltd	0.135	0%	8%	-27%	-13%	-25%	$ 114,325,721.38
FAL	Falconmetalsltd	0.135	-10%	13%	17%	-47%	17%	$ 21,240,000.00
SPD	Southernpalladium	0.61	-2%	49%	2%	58%	2%	$ 63,100,500.00
ORN	Orion Minerals Ltd	0.01	-9%	-17%	-29%	-33%	-33%	$ 68,504,478.18
TMB	Tambourahmetals	0.02	-9%	-17%	-13%	-61%	-5%	$ 3,235,981.01
TMS	Tennant Minerals Ltd	0.006	0%	-14%	-37%	-71%	-33%	$ 5,862,397.28
AZY	Antipa Minerals Ltd	0.675	-10%	9%	160%	543%	160%	$ 399,884,594.79
PXX	Polarx Limited	0.007	-7%	0%	17%	-46%	8%	$ 16,628,506.85
TRE	Toubani Res Ltd	0.285	-2%	-5%	78%	54%	68%	$ 74,618,436.37
AUN	Aurumin	0.1	4%	27%	54%	194%	52%	$ 49,426,014.40
GPR	Geopacific Resources	0.025	9%	39%	25%	29%	25%	$ 79,561,633.15
FXG	Felix Gold Limited	0.14	-3%	4%	75%	250%	67%	$ 57,574,552.14
ILT	Iltani Resources Lim	0.235	-4%	4%	15%	-24%	15%	$ 11,867,640.30
BRX	Belararoxlimited	0.058	-2%	-38%	-63%	-69%	-67%	$ 9,151,168.66
TM1	Terra Metals Limited	0.046	-2%	64%	109%	-34%	64%	$ 21,505,363.47
TOR	Torque Met	0.155	24%	24%	198%	7%	192%	$ 81,619,457.79
ARD	Argent Minerals	0.021	-5%	0%	24%	50%	24%	$ 30,368,950.08
LM1	Leeuwin Metals Ltd	0.135	8%	8%	13%	193%	-4%	$ 13,104,829.92
SX2	Southgold Consol	7.285	-9%	24%	0%	0%	0%	$ 1,030,751,120.80
UVA	Uvrelimited	0.099	10%	3%	16%	9%	11%	$ 5,177,200.09
VTX	Vertexmin	0.27	-4%	15%	46%	238%	30%	$ 52,444,081.82
LNQ	Linqmineralslimited	0.19	0%	0%	0%	0%	0%	$ 12,370,000.20

GBM Resources (ASX:GBZ)

GBM shares soared over the past week after a major reshuffle including a $13m raising, which will see well known mining identity Ian Middlemas become chairman and a major shareholder with a $1.2m contribution to the raise, which will be used to repay and cancel a $6.2m collection of convertible notes held by Collins St Asset Management.

The company will also cancel a farm-in agreement that will give it full ownership of the Twin Hills project, with privately owned Wise Walkers instead taking a 19.99% stake by converting the Twin Hills equity and putting $2m into the placement, which will consolidate a 1.84Moz resource base at Twin Hills and Yandan in Queensland's Drummond Basin.

The changes will be rung in at the executive level as well.

Peter Rohner is stepping aside as MD and will stay on as CEO until the end of July, with Sunny Loh stepping back from chair to non-executive director. Andrew Krelle will remain exec director, while Robert Behets and Peter Fox will round out the junior's board as NEDs.

Over $5m from the placement will be committed to exploration across Yandan and Twin Hills, including $3m for drilling at Twin Hills' Lone Sister and 309 deposits.

"With a strong debt-free balance sheet, GBM now has a great opportunity to deliver value to shareholders through an accelerated exploration program across Twin Hills and Yandan," Krelle said in a statement.

"GBM’s exploration plan for the next 12 months is designed to expand the significant gold resource base at Twin Hills and Yandan by systematically exploring for epithermal gold mineralisation across GBM’s Drummond Basin projects.”

Megado Minerals (ASX:MEG)

Megado shares have been running hot this week on little more than a couple of substantial shareholder notices, one of them confirming the substantial shareholder status of chairman Anthony Hall.

But there is a bit of fresh blood through the company in the form of a new flagship prokject, the Iberian Copper project located across the Aragon and Navarra provinces of Spain.

The region hosts shallow copper oxide mining up to the 1970s, with 12 historic mines identified across a snaking set of permits covering 956km2 over a 200km east to west geological strike.

The presence of more than 30 historic mines with significant copper and silver potential should keep Megado busy as it diversifies its portfolio from a slew of gold and lithium prospects in Canada's James Bay region.

Star Minerals (ASX:SMS)

Also shy of a bit of news this week, $4m capped Star is nonetheless moving forward with studies to mine its small Tumblegum South project in the Murchison.

Drilling was poised to start this month under a drill for equity deal with Impact Drilling to test extensional targets and infill drilling within a $3800/oz pit boundary at Tumblegum South.

A recent scoping study suggested the project could be brought to life with just $700,000-1.5m in upfront capital costs, generating $9.4-19.6m in cash surplus on the production of 11,800-15,900oz of gold.

That could start as soon as early 2026, with an MoU already signed for development and mining with contractor MEGA Resources.

Tumblegum South contains an indicated and inferred resource of 616,000t at 2.28g/t for 45,000oz of gold.

Originally published as Gold Digger: Platinum spins new 11-year record